The Securities Law Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solici...

The Securities Law Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solici...

Bank of America (NYSE:BAC)Historical Stock Chart

3 Years : From Mar 2012 to Mar 2015

The Securities Law Firm of Menzer & Hill, P.A. (www.suemyadvisor.com)
announced today that it has filed arbitration claims and continues to
investigate the sales practices of brokerage firms that solicited
investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”).
Many brokerage firms, through their financial advisors, have solicited
purchases in these securities as investments, with holding periods
longer than one day, while others are recommending option strategies on
the underlying ETFs.

The Financial Industry Regulatory Authority (“FINRA”), stated in a
Regulatory Notice, sent to brokerage firms June 2009, that leveraged and
inverse ETFs are “highly complex financial instruments” and “are
typically not suitable for retail investors who plan to hold them for
more than one trading [day], particularly in volatile markets.”
Brokerage firms that failed to adhere to suitability requirements could
be held liable to investors that sustained losses in solicited purchases
of leveraged and inverse ETFs as a result.

On May 1, 2012, Citigroup was fined $2 million and ordered to pay
$146,431 in restitution. Wells Fargo was fined $2.1 million and ordered
to pay $641,489 in restitution. Morgan Stanley was fined $1.75 million
and ordered to pay $604,584, and UBS was fined $1.5 million and ordered
to pay $431,488.

Investors that have purchased leveraged or inverse ETFs through a
brokerage account or managed account offered by Merrill Lynch, a
subsidiary of Bank of America (NYSE: BAC), Morgan Stanley Smith Barney
(NYSE: MS), Wells Fargo Advisors (NYSE: WFC), Ameriprise Financial
(NYSE: AMP), UBS (NYSE: UBS), LPL Financial, Raymond James (NYSE: RJF),
Edward Jones, or other brokerage firms and have sustained losses should
contact the attorneys at the Securities Law Firm of Menzer & Hill, P.A.
to determine if they have a claim for a recovery of losses.

For a free case evaluation or to discuss any other investment losses,
please contact the Securities Law Firm of Menzer & Hill, P.A., at
888-923-9223, or visit us on the web at www.suemyadvisor.com.

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